Leading Residences of the World Membership Plans
"The Leading Residences of the World offers only full memberships—complete with all rights, privileges and protections."
According to the club's frequently asked questions, the reason for the sole membership plan were to ensure that "all members have common interests and goals and that The Leading Residences of the World does not have mixed agendas relative to different membership levels. All members have equal privileges. No member is permitted to monopolize holidays and other high-demand dates at the expense of other members."
Offering unlimited annual travel, memberships within The Leading Residences of the World were first available for $325,000 and eventually moved to $350,000 before merging with Quintess to form Quintess, The Leading Residences of the World.
Despite the price increase, annual dues within the club remained at $15,000 throughout.
Over 95% of the members of The Leading Residences of the World elected to stay with the newly formed Quintess, LRW and continue to make up a portion of the club's membership base. Just months prior to their merger, Quintess had also merged with fellow Colorado based destination club Dream Catcher Retreats, bringing two very similar destination clubs together to further establish themselves in the sector.
As opposed to The Leading Residences of the World strategy, the vast majority of other destination clubs offer a plethora of membership options, providing different levels of annual usage at different price points. These structures provide for more flexibility in choosing a plan that is congruent with your travel needs, but also has the potential for certain groups of members to have better access to select properties or travel periods. Clubs that have just one membership plan will allow each member equal reservation rights, but also leads to far less ability to customize a membership unique to your vacation patterns.
If you would like to more thoroughly understand the destination club industry and the various due diligence questions you should ask when evaluating any of the clubs, request a free copy of our Destination Club Guide.
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